By BBC

August 23, 2019 "Information Clearing House" -   President Donald Trump says he has "hereby ordered" American companies to leave China, after Beijing announced plans to slap new tariffs on US goods.

The White House did not immediately say what authority the president had to compel private firms to quit a country.

The US president also vowed swift retaliation against Beijing after it unveiled plans for duties of 10% on $75bn (£61bn) of US goods.

The latest salvos in the trade war sent global financial markets tumbling.

The Dow Jones Industrial Average lost more than 620 points, or 2.4%, while London's FTSE 100 and the German DAX also turned negative.

In a blistering Twitter screed on Friday, Mr Trump said: "Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing... your companies HOME and making your products in the USA."

He also tweeted: "We don't need China and, frankly, would be far... better off without them.

"Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won't let that happen!

China's new tariffs will range between 5% and 10% and apply to more than 5,000 goods coming from the US.

Agricultural goods, crude oil and small aircraft are among the targeted items.

On Friday, Mr Trump tweeted that he would be "responding to China's Tariffs this afternoon".

"This is a GREAT opportunity for the United States," he wrote.

Beijing also said it will revive a 25% tariff on US car imports that it lifted earlier in 2019 in a goodwill gesture as the two countries tried to negotiate a trade agreement.